Carla Corporation began operations in 2020 and reported pretax financial income of $237,000 for the year. Carla's tax depreciation exceeded its book depreciation by $44,000. Carla's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance sheet, what amount of deferred tax liability should be reported? Deferred tax liability to be reported $
Carla Corporation began operations in 2020 and reported pretax financial income of $237,000 for the year. Carla's tax depreciation exceeded its book depreciation by $44,000. Carla's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance sheet, what amount of deferred tax liability should be reported? Deferred tax liability to be reported $
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 48P
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![Carla Corporation began operations in 2020 and reported pretax financial income of $237,000 for the year. Carla's tax depreciation
exceeded its book depreciation by $44,000. Carla's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance
sheet, what amount of deferred tax liability should be reported?
Deferred tax liability to be reported
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06c7c8d5-2c04-49b7-8fe3-106e5cab0a5d%2F5c2efa7b-1eff-4c33-8d9c-9b3a8f95996c%2Flcz75m_processed.png&w=3840&q=75)
Transcribed Image Text:Carla Corporation began operations in 2020 and reported pretax financial income of $237,000 for the year. Carla's tax depreciation
exceeded its book depreciation by $44,000. Carla's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance
sheet, what amount of deferred tax liability should be reported?
Deferred tax liability to be reported
$
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